Rs 765 crore order book: This multibagger small-cap company bags new order worth Rs 72 crore from Government of Odisha!
The stock gave multibagger returns of 180 per cent in just 1 year whereas BSE Small-cap Index is up by 52 per cent.
Surya Roshni Ltd informed that the company has obtained an order amounting to Rs 72 crore (with GST) from Odisha Urban Infrastructure Development Fund (OUIDF), Government of Odisha. The order includes the project & maintenance of LED public street lighting in 16 ULBs in Balasore, Jajpur, Keonjhar and Mayurbhanj - Districts (in the State of Odisha).
Today, shares of Surya Roshni surged 4.41 per cent to Rs 787.50 per share from its previous closing of Rs 754.20. The stock’s 52-week high of Rs 838.20 per share and its 52-week low is Rs 275.68 per share.
Surya Roshni Limited incorporated in 1973 has emerged as India’s largest ERW Pipes exporter, largest GI Pipes producer, and the second largest in the lighting segment. Its focus is on developing the value-added product mix (3LPE Coated pipes, Alkyd pipes, etc). The company has a market cap of over Rs 8,500 crore and has delivered good profit growth of 25.4 per cent CAGR over the last 5 years.
Results Updates: In its Quarterly Results, the net sales decreased by 3.45 per cent to Rs 1,915.73 crore while net profit increased by 11.71 per cent to Rs 76.01 crore in Q2FY24 compared to Q2FY23. The net sales increased by 3.44 per cent to Rs 7,996.71 crore and net profit increased by 63.73 per cent to Rs 335.52 crore in FY23 compared to FY22.
As of September 2023, the company has an order book of Rs 795 crore and an ace investor, Mukul Agrawal owns a 1.47 per cent stake in the company as of October 2023. The stock gave multibagger returns of 180 per cent in just 1 year whereas BSE Small-Cap Index is up by 52 per cent. Investors should keep an eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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